2nd Circ. Approves $180M Sirius XM Antitrust Settlement

Law 360 reports on the case in which CCAF represented class members who objected to the Sirius XM settlement.

The subscribers claimed that although Sirius had never raised its monthly charge and XM had raised its charge once in the six years before the merger, the combined company boosted its rates within a year of the deal.

The settlement, which was reached May 13, called for Sirius to agree to keep the price for subscriptions purchased by multiradio subscribers — after their initial subscription — at or below the current rate through Dec. 31. It also required Sirius keep the price for Internet streaming for subscribers with basic subscriptions at or below $2.99 per month through that same date.

Objectors filed nine separate appeals of the settlement, which were later consolidated by the Second Circuit.

Read the full article at Law 360.